FinBi to increase exports to British market in 2018

FinBi for Land Reclamation and Agriculture Development aims to intensify its exports this year, beginning with the British market with grapes and pomegranates.

FinBi for Land Reclamation and Agriculture Development, a subsidiary of FinBi Financial Consulting, aims to export 1,200 tonnes to the UK this season, up from only 20 tonnes last year.

Mie Salem, general manager, said that it is planting 200 feddans on the Cairo – Alexandria Desert Road, noting that the company exports grapes and pomegranates only, despite planting other crops.

The company began exporting indirectly four years ago, through other companies, and only embarked on direct exporting last year.

She pointed out that Egyptian pomegranates are characterised by their high quality, which raises the rate of demand for them on the global market, adding that they could also be stored in refrigerators if prices temporarily decline.

She added that the export season of Egyptian grapes is characterised by a lack of competitors in foreign markets, which makes prices at most times good, especially in the first week of exporting, but the export season is short and does not exceed 21 days.

The season of exporting Egyptian grapes starts in the second week of May and lasts until early June, and sometimes starts and ends within 21 days.

She added that the price of the first week may reach $5 per kilogram, going down by $1 per week of the season.

Salem said that the European Union has reduced the rate of inspection for Egyptian grapes, as they have a unique reputation and quality. The EU reduced inspection rates on Egyptian grape shipments from this year from 20% to 0%, making them more attractive to importers.

Salem expressed her willingness to enter the Arab and Gulf markets and the countries of the European Union and East Asia, especially as different quality products each have their own market. For example, she explained, the British market, despite being one of the toughest markets in terms of requirements of quality and specifications, the company chose it to launch its exports in.

With regard to the new Egyptian exports system, Salem said that the procedures are harsh but will eventually be good towards limiting violations that damage Egypt’s production reputation. There have been over eight bans on Egyptian products in the past two years, including on peppers, strawberries, and guavas, from several countries, such as Saudi Arabia, the UAE, Bahrain, and Sudan.

The company is considering the export of citrus in the coming period, especially after China opened its markets, which will be an important step for the company to expand the volume of exports, but it will wait at least two years to start.

She pointed out that the diversification of markets is an important step that must be taken care of and worked on during the coming period, which raises the confidence of foreign markets in Egyptian products, due to their presence in several markets.